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Gerald Thomas Quoted in Reuters Article on Possible Sears REIT

December 16, 2014

A Dec. 9, 2014, article titled "Saving Sears: Eddie Lampert's complicated dance" analyzes the challenges facing Sears Holdings Corp. and its chief executive officer as they plan to form a real estate investment trust (REIT) to acquire stores and lease them back to the retailer. In paraphrased material, partner Gerald Thomas describes an alternate approach: structuring the deal so the REIT does not directly own the stores by dividing ownership between a separate entity under the REIT umbrella and a common entity in the REIT itself. To read the full text of the article, visit www.reuters.com